$RAY has experienced a notable price increase of 3.212% in the last 24 hours.
Current price action is near the upper Bollinger Band at 2.188, suggesting potential overextension.
However, the market could still maintain an upward trend if it breaches the resistance level of 2.221.
The lower Bollinger Band at 2.096 indicates strong support, providing a safety net for traders.
With volatility contracting, traders should consider cautious positioning.
Implement a stop-loss just below 2.079 to manage risks effectively.
Recommended action: wait for a confirmed breakout above 2.221 or set alerts for re-entry.
